Redburn Atlantic Upgrades Air Products and Chemicals: A Positive Shift in Outlook

On October 25, 2024, Fintel reported that Redburn Atlantic has revised their rating for Air Products and Chemicals (LSE:0HBH), moving from a Sell to a Neutral position.

Potential for Growth: Analyst Price Forecast

The average one-year price target for Air Products and Chemicals, as of October 22, 2024, stands at 332.47 GBX per share. This range varies from a low of 256.90 GBX to a high of 403.23 GBX. Notably, this average indicates a potential increase of 3.22% compared to the most recent closing price of 322.11 GBX per share.

For more insights, check out our leaderboard of companies with significant price target upside.

Strong Revenue Projections Ahead

Air Products and Chemicals is expected to generate an annual revenue of 15,661MM, reflecting a robust growth rate of 29.38%. Additionally, the projected non-GAAP earnings per share (EPS) stands at 14.11.

Institutional Investment Trends

Currently, 2,434 institutional funds are invested in Air Products and Chemicals, marking a decrease of 55 owners, or 2.21%, over the last quarter. The average portfolio weight allocated to 0HBH across these funds is 0.39%, which shows a 6.77% increase. Over the past three months, total shares owned by institutions rose 6.32%, amounting to 226,159K shares.

Recent Moves by Major Shareholders

Capital Research Global Investors holds a substantial 14,933K shares, which accounts for 6.72% of the company. This marks a significant increase from their previous holding of 11,230K shares, representing a 24.80% rise and a 37.36% increase in their portfolio allocation in 0HBH over the last quarter.

State Farm Mutual Automobile Insurance remains steady with its holding of 12,302K shares, making up 5.53% ownership and showing no change from the previous quarter.

The Vanguard Total Stock Market Index Fund (VTSMX) holds 7,028K shares, representing 3.16% ownership, which is a slight uptick from its prior holding of 6,997K shares, reflecting a 0.44% increase in its investment.

JPMorgan Chase has 6,489K shares, which represent 2.92% ownership but shows a decrease from 6,872K shares, indicating a 5.90% reduction in their portfolio allocation towards 0HBH.

Moreover, the Vanguard 500 Index Fund (VFINX) holds 5,705K shares, or 2.57% ownership, up from 5,602K shares, which indicates a 1.81% increase in its portfolio allocation.

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This article originally appeared on Fintel.

The views and opinions expressed herein are solely those of the author and do not necessarily reflect those of Nasdaq, Inc.